Humu, a Startup Run by Former Google HR Boss, Cuts Jobs

(Bloomberg) -- Humu Inc., a software firm run by Google’s former human resources chief, is the latest Silicon Valley startup to cut jobs due to the impact of the coronavirus.

The startup made the reductions this week and is planning to lower its hiring goal for the year by 40%. Laszlo Bock, Humu’s co-founder and chief executive officer, confirmed the moves but declined to say how many people were involved. The company had about 80 workers recently.

“Reductions are always tough, but against the backdrop of the greatest economic slowdown in a century, everyone is being forced to make painful decisions,” he wrote in an email. “We’ve focused on being as empathetic as possible, though of course there’s no way to make this a positive experience for people.”

Startups have been hit particularly hard during the crisis. An estimated 8,000 employees were let go at roughly 100 U.S. startups since March 11, when the the coronavirus was declared a pandemic. That figure comes from Layoffs.fyi, a tracker that measures publicly announced job cuts. The actual total is likely far higher.

Young firms that burn through cash quickly or haven’t raised outside funds recently are especially vulnerable. Humu, which sells data-analytics software for companies to improve workplace cultures, said last year that it had raised $40 million from two financing rounds.

Some tech employees have reported traumatic downsizing experiences, such as having job cuts announced on group video calls. Bock said Humu founders delivered the news personally. “I and the other leaders in the company are 100% focused on helping people land in a good spot, opening our networks and relationships to every one of our people, and calling in every favor we can,” he said.

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